Question 69
Find the value of the interest earned on a sum of ₹6,000 for 5 years at 8.4% simple interest rate per annum .
Solution
Simple Interest = PRT/100
According to this P= 6000, Rate =8.4%, Time =5
SI = $$\frac{6000\times\ 8.4\times\ 5}{100}$$
SI = $$504\times\ 5$$
SI = $$2520$$
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